The Fantom price has dropped by 12.86% in the last 11 days, highlighting increased selling pressure for the altcoin in the crypto market. However, the bulls maintained the value above the $0.70 mark. This resulted in the altcoin experiencing a positive bounceback.
Will the crypto bulls maintain their optimistic sentiments, to help the FTM crypto price reclaim its $1 mark this month? In this article, we have covered the short-term market sentiment, price analysis, and possible short-term price targets of the Fantom (FTM) crypto token.
FTM Price Records Bullish Reversal!
The Fantom price has jumped over 3% in 24 hours with a trading volume of $228.57 million, a change of +4.89%. Notably, this altcoin has displayed a significant price action over the past few days, highlighting increased price action.
The Simple Moving Average (SMA) constantly acts as a resistance to the FTM price chart in the daily time frame. This suggests an increase in the selling-over-buying pressure in the crypto market.
On the other hand, the MACD indicator shows a constant decline in the red histogram. Further, its averages hint at a potential bullish convergence. This highlights a mixed price sentiment for the altcoin during the upcoming week.
Will FTM Price Hit $1?
If the bullish sentiment sustains, the Fantom coin price could retest its resistance level of $0.80. Maintaining the price above that level could set the stage for this altcoin to head toward its target price of $1 this month.
On the contrary, if the bears regain momentum, the FTM crypto price could record a bearish reversal. This could result in the price of Fantom plunging toward its crucial support trendline of $0.60.
To find out answers to questions like “Can FTM reach $50?” Read CoinPedia’s Fantom Price Prediction to uncover the potential mysteries until 2030!
FAQs
The Fantom price could achieve this price tag by the year 2026 if the bullish sentiment sustains.
With a 24-hour trading volume of $232.52 million, the FTM token is currently trading at $0.7012.
With an ATH of $3.48, this altcoin is highly undervalued as of now. This potentially makes this a good investment for the long-term prospects.
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